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HomeMy WebLinkAbout08-2020 Golf FinMonthly Financial Statements - Golf August 2020 City of South Bend Venues Parks & Arts 321 East Walter Street South Bend, IN 46614 “We Build Community Through People, Parks, & Programs” 1 GOLF COURSE OPERATIONS STATEMENT OF REVENUES AND EXPENSES FOR THE EIGHT MONTHS ENDED AUGUST 31, 2020 ELBEL ERSKINE STUDEBAKER TOTAL Golf Operating Revenues: Daily Green Fees 285,040$ 244,249$ 57,955$ 587,243$ Season Ticket Sales (a) 39,950 60,153 62,820 162,924 Cart Rentals 126,940 104,693 20,572 252,205 Merchandise Sales 18,118 16,484 1,716 36,318 Driving Range 23,316 N/A N/A 23,316 Gift Certificates (Net) 4,319 5,068 - 9,387 Miscellaneous 533 915 288 1,735 Total Golf Operating Revenues: 498,215$ 431,562$ 143,437$ 1,073,215$ Concession Operating Revenues: Food Sales 19,575$ 12,415$ 452$ 32,443$ Pop Sales 11,862 9,293 2,943 24,098 Alcohol Sales 45,445 30,500 N/A 75,945 Golf Outings - - N/A - Miscellaneous/Reservations/Other 75 2,303 - 2,378 Total Concession Operating Revenues: 76,958$ 54,511$ 3,395$ 134,864$ Total Operating Revenues:575,173$ 486,073$ 146,832$ 1,208,079$ Golf Operating Expenses: Personnel (b) 247,184$ 247,184$ 54,930$ 549,297$ Shared Administrative Expenses (b) 83,485 83,485 18,552 185,522 Cost of Good Sold 41,777 33,134 1,905 76,816 Supplies 60,796 46,049 7,283 114,128 Contractual 13,576 9,976 1,938 25,489 Debt Service 33,108 33,108 7,357 73,574 Total Golf Operating Expenses: 479,925$ 452,935$ 91,965$ 1,024,825$ Total Operating Expenses: 479,925$ 452,935$ 91,965$ 1,024,825$ Operating Income (Loss) 95,248$ 33,138$ 54,868$ 183,254$ (a) Season ticket sales are allocated to Elbel, Erskine, and Studebaker based on percentage of season pass play. (24%, 37%, 39%, respectively) (b) Shared advertising revenues and administrative expenses are allocated to Elbel, Erskine, and Studebaker on a 45%, 45%, 10% basis, respectively. The expenses include shared personnel costs, supplies, contractuals, and administrative fees. 2 GOLF COURSE OPERATIONS REVENUES BY COURSE FOR THE EIGHT MONTHS ENDED AUGUST 31, 2020 ELBEL ERSKINE STUDEBAKER TOTALS Revenue Percent Change Change 2019 2020 2019 2020 2019 2020 2019 2020 GREEN FEES $208,510 $285,040 $182,446 $244,249 $40,866 $57,955 431,821 $587,243 $155,422 36% SEASON PASS SALES 24,613 30,827 120,087 119,568 11,200 12,529 155,900 162,924 7,023 5% CART RENTALS 111,053 126,940 97,351 104,693 16,637 20,572 225,042 252,205 27,163 12% MERCHANDISE SALES 16,450 18,118 14,722 16,484 1,680 1,716 32,852 36,318 3,466 11% DRIVING RANGE RECEIPTS 19,076 23,316 N/A N/A N/A N/A 19,076 23,316 4,240 22% LEAGUE ENTRY FEES 414 0 540 0 153 87 1,107 87 (1,020)0% TOTAL $380,116 $484,241 $415,147 $484,994 $70,536 $92,858 $865,799 $1,062,093 $196,294 23% 3 GOLF COURSE OPERATIONS COMPARATIVE ROUNDS PLAYED* 2017 THRU 2020 (THROUGH AUGUST) AVERAGE GOLF COURSE 2017 2018 2019 2017-19 2020 Elbel (Daily) 10,925 10,847 11,439 11,070 13,749 Elbel (Season) 3,242 2,709 3,464 3,138 2,891 ELBEL TOTAL 14,167 13,556 14,903 14,209 16,640 CHANGE FROM PREV YR.-4% 10% 12% Erskine (Daily) 11,758 12,180 10,418 11,452 12,599 Erskine (Season) 6,309 5,125 4,450 5,295 4,353 ERSKINE TOTAL 18,067 17,305 14,868 16,747 16,952 CHANGE FROM PREV YR.-4% -14% 14% Studebaker (Daily) 6,882 6,379 4,967 6,076 7,064 Studebaker (Season) 463 326 2,610 1,133 4,546 STUDEBAKER TOTAL 7,345 6,705 7,577 7,209 11,610 CHANGE FROM PREV YR.-9% 13% 53% Total (Daily) 29,565 29,406 26,824 28,598 33,412 Total (Season) 10,014 8,160 10,524 9,566 11,790 TOTAL COURSES 39,579 37,566 37,348 38,164 45,202 CHANGE FROM PREV YR.-5% -1% 21% *One "Round" = 18 Holes @ Elbel and Erskine One "Round" = 9 holes @ Studebaker 4 GOLF COURSE OPERATIONS DAILY FEE ROUNDS & SALES FOR THE EIGHT MONTHS ENDED AUGUST 31, 2020 ELBEL ERSKINE TOTAL % OF % OF % OF ROUNDS ROUNDS % OF ROUNDS ROUNDS % OF ROUNDS ROUNDS % OF GREEN FEES PLAYED PLAYED SALES SALES PLAYED PLAYED SALES SALES PLAYED PLAYED SALES SALES Preferred Player 9-Holes - Preferred Player - Weekday 603 4.39% 5,978$ 2.10% 1,009 8.01% 10,089 4.13% 1,612 6.12% 16,067$ 3.04% Preferred Player 9-Holes - Preferred Player - Weekend - 0.00% - 0.00% 48 0.38% 480 0.20% 48 0.18% 480 0.09% Preferred Player 18-Holes - Preferred Player - Weekday 1,776 12.92% 15,948 5.59% 1,743 13.83% 15,751 6.45% 3,519 13.36% 31,699 5.99% Preferred Players Card - Weekend - After 2:00 216 1.57% 1,944 0.68% 178 1.41% 1,602 0.66% 394 1.50% 3,546 0.67% Preferred Players Card - Weekend - Before 12:00 453 3.29% 8,910 3.13% 413 3.28% 9,041 3.70% 866 3.29% 17,951 3.39% Preferred Players Card - Weekend - WE 12:00 - 2:00 43 0.31% 669 0.23% 38 0.30% 653 0.27% 81 0.31% 1,322 0.25% GolfNow Pay at Course 2,992 21.76%102,707 36.03%2,208 17.53%71,942 29.45%5,200 19.74%174,649 33.00% Outing 130 0.95% 2,080 0.73% - 0.00% - 0.00% 130 0.49% 2,080 0.39% 18 Holes - Weekday - After 3 :00 447 3.25% 9,665 3.39% 113 0.90% 2,703 1.11% 560 2.13% 12,368 2.34% 18 Holes - Weekday - Before 3 :00 1,184 8.61% 27,177 9.53% 702 5.57% 19,052 7.80% 1,886 7.16% 46,229 8.73% 18 Holes - Weekend - 12:00-4:00 511 3.72% 12,409 4.35% 309 2.45% 7,924 3.24% 820 3.11% 20,333 3.84% 18 Holes - Weekend - After 4 :00 120 0.87% 2,560 0.90% 58 0.46% 1,401 0.57% 178 0.68% 3,961 0.75% 18 Holes - Weekend - Before 12:00 999 7.27% 28,649 10.05% 845 6.71% 26,246 10.75% 1,844 7.00% 54,895 10.37% 9 Holes 3,003 21.84% 43,632 15.31% 3,088 24.51% 47,578 19.48% 6,091 23.12% 91,210 17.23% League 9-Hole - 0.00% - 0.00% 491 3.90% 6,874 2.81% 491 1.86% 6,874 1.30% Junior - Weekday - 18 32 0.23% 714 0.25% 278 2.21% 4,640 1.90% 310 1.18% 5,354 1.01% Junior - Weekend - 18 13 0.09% 289 0.10% 35 0.28% 845 0.35% 48 0.18% 1,134 0.21% Senior - Weekday 1,112 8.09% 19,591 6.87% 585 4.64% 10,487 4.29% 1,697 6.44% 30,078 5.68% Senior - Weekend 70 0.51% 1,535 0.54% 65 0.52% 1,430 0.59% 135 0.51% 2,965 0.56% SPRING - 18 Holes - Weekday - All Day - 0.00% - 0.00% 63 0.50% 945 0.39% 63 0.24% 945 0.18% SPRING - 18 Holes - Weekend - After 2:00 - 0.00% - 0.00% 21 0.17% 315 0.13% 21 0.08% 315 0.06% SPRING - 18 Holes - Weekend - Before 2:00 - 0.00% - 0.00% 84 0.67% 1,645 0.67% 84 0.32% 1,645 0.31% SPRING - 9 Holes - 0.00% - 0.00% 185 1.47% 2,036 0.83% 185 0.70% 2,036 0.38% SPRING - Junior - Weekday - 0.00% - 0.00% 4 0.03% 85 0.03% 4 0.02% 85 0.02% SPRING - Junior - Weekend - 0.00% - 0.00% 2 0.02% 54 0.02% 2 0.01% 54 0.01% SPRING - Senior - Weekday - 0.00% - 0.00% 18 0.14% 198 0.08% 18 0.07% 198 0.04% SPRING - Senior - Weekend - 0.00% - 0.00% 1 0.01% 15 0.01% 1 0.00% 15 0.00% Bounce Back 20 0.15% 218 0.08% - 0.00% - 0.00% 20 0.08% 218 0.04% Other 25 0.18% 366 0.13% 15 0.12% 218 0.09% 40 0.15% 584 0.11% TOTAL 13,749 100.00%$285,040 100.00%12,599 100.00%$244,249 100.00%26,348 100.00%$529,289 100.00% 5